Economy

Wall St set to open lower as N.Korea tensions rise

Wall St set to open lower as N.Korea tensions rise”

Analysts look for the nuclear bomb tests as the main culprit on why fear continues to instill inside investors, dragging most USA stocks, even the dollar, down even after closing at lower figures last week.

Exxon and Chevron rose about 2 percent, providing the biggest boost to the S&P, while a 2.3 percent rise in Home Depot shares propelled the Dow. In its last statement in July, the currency had a low number of mentions of 9 times, they said.However, price action was subsiding after the morning flurry as Wall Street traders do not return from the Labor Day holiday until Tuesday in a week filled with central bank meetings that are expected to dominate market attention.

"In general, we continue to get a positive momentum on the economic side".

Federal Reserve Governor Lael Brainard said the USA central bank should delay raising United States interest rates until it is confident inflation that is now "well short" of target will rebound. "While North Korea is still a wild card for certain, on the central bank front, both the ECB and the Fed are looking a little bit more dovish", Erickson said.

Investors will focus on the Fed's Beige Book, a round-up of anecdotes on the health of the economy, that will be issued later in the day.

The Dow Jones Industrial Average .DJI rose 54.33 points, or 0.25 percent, to 21,807.64, the S&P 500 .SPX gained 7.69 points, or 0.31 percent, to 2,465.54 and the Nasdaq Composite .IXIC added 17.74 points, or 0.28 percent, to 6,393.31.

Lastly, investors are also watching Hurricane Irma, which is threatening the Caribbean islands and Florida, just one week after Hurricane Harvey disrupted refineries in Texas. It is up more than 13 percent against the dollar this year and is the best performing currency in the G10 space.The euro's price action on Monday was all the more surprising given the overhang of long bets on the single currency that have grown rapidly this year and before an European Central Bank policy meeting this week. andLatest positioning data showed long euro positions at their biggest in five years.

The S&P on Friday had ended within five points of its record closing high.

The futures of USA stocks were down as the ongoing geopolitical turmoil against the North Korea extends up to this week.

Newell Brands was off about 4 percent after the Sharpie maker slashed its profit outlook for 2017, while apparel retailer Francesca's Holdings was down more than 3 percent after its profit forecast fell below estimates.

Declining issues outnumbered advancing ones on the NYSE by a 2.34-to-one ratio; on Nasdaq, a 2.14-to-one ratio favoured decliners.

The benchmark S&P fell as much as 1.2 per cent during the session, but stemmed its losses by the close.



Like this

Latest


07 September 2017
Ishares Trust Dow Jones United States Financial (IYG) Moving 0.49% in Session
At the time of writing, the 14-day ADX for iShares Dow Jones US Aerospace and Defense Index Fund (ITA) is standing at 27.24. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations.

07 September 2017
Maxim Integrated Products Inc (NASDAQ:MXIM): Institutional Investor Sentiment Up to 1.18
One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Also, there are 0 buy, 0 sell and 1 strong sell ratings, collectively assigning a 2.24 average brokerage recommendation.

07 September 2017
'Supergirl' Recasts Two More Roles for Season 3 Flashback
As for high school-aged Kara, she'll be played by The Fosters' Izabela Vidovic , according to EW.com. Your hopes for Season 3 (premiering Monday, Oct. 9 at 8/7c on The CW)?

07 September 2017
Cubs RHP Jake Arrieta exits early with apparent injury
He will be making his ninth start after returning from the disabled list in late July after recovering from right hand tendinitis. Jake Arrieta (hamstring) could undergo an MRI on Tuesday depending on how he feels when he reports to the ballpark.

07 September 2017
We have many military options
Trump has been tweeting throughout the day as he takes aim at North Korea, earlier this year promising "fire and fury". Security Council, whose members unanimously remain committed to the denuclearization of the Korean peninsula.

07 September 2017
Apriem Advisors Reduces Holdings in Cohen & Steers infrastucture Fund Inc (UTF)
The Fund's investment objective is high current income through investment in real estate and diversified preferred securities. Commonwealth Equity Svcs Incorporated has 0% invested in Cohen and Steers Global Income Builder (NYSE:INB) for 10,732 shares.

07 September 2017
Are Analysts Bullish about Sears Holdings Corp (NASDAQ:SHLD) after last week?
The Company's divisions include steel operations, metals recycling operations, steel fabrication activities and Other Operations. With 2.69M avg volume, 5 days are for Sears Holdings Corporation (NASDAQ:SHLD)'s short sellers to cover SHLD's short positions.

07 September 2017
Nigeria still in real recession, Atiku says
According to Premium Times, Alhassan says she'll choose Atiku over Buhari if the latter's name is on the ballot in 2019. "If Atiku said he is going to contest".

07 September 2017
French Police Discover 'Bomb Factory' In Paris, Arrest Two
French police arrested two people Wednesday after they discovered a "bomb factory" inside an apartment in a Paris suburb. The pair were arrested as they were driving a small van that belongs to one of the flat's tenants, a police source said.

07 September 2017
Transcanada Corp (TRP) Position Maintained by Viking Fund Management Llc
COPYRIGHT VIOLATION WARNING: This article was first published by Week Herald and is the sole property of of Week Herald. Caisse DE Depot ET Placement DU Quebec grew its stake in TransCanada Corporation by 0.6% during the 1st quarter.



Recommended